Refine Edit mode, Enter mode and Point mode
Make these more user-friendly. Examples:
Have an option such that when we access Point mode by using the navigation keys from Edit mode when an existing reference within a formula is selected, it starts from the existing reference rather than the active cell / top left.
When editing names from the name manager, it would be better if the initial mode was Edit mode rather than Point mode, because in Edit mode the arrow keys allow us to navigate within the entry (which is what I think people most commonly want to do after activating that field) rather than including another reference within the text.
Neale Blackwood commented
This applies to a lot of Excel dialogs. If there is an existing entry it should default to Edit mode rather than Point mode. Edit mode allows the use of the arrow keys within the formula. In point mode the arrow keys select cells on the sheet.